Business Terms From Glossary - Marketing

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Above-the-line promotion

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28 Terms

1

Above-the-line promotion

Various forms of promotion aimed at mass audiences, like TV and radio ads.

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2

Below-the-line promotion

Promotion focused on specific segments or groups.

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3

Brand awareness

Degree to which consumers recognize a product.

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4

Brand development

Process of building brand awareness.

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5

Brand loyalty

Continued purchase of a brand despite alternatives.

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6

Brand value

Estimation of a brand's worth.

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7

Competitive pricing

Pricing based on competitors' prices.

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8

Contribution pricing

Price based on variable costs plus markup.

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9

Cost-plus (mark-up) pricing

Pricing method adding costs and markup to determine sales price.

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10

Customer loyalty programmes

Marketing strategies rewarding repeat customers.

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11

Economy of scale

Reduction in per-unit production cost with business growth.

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12

Loss leader

Product sold at a loss to attract customers.

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13

Market growth

Increase in consumers buying a product or service.

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14

Market orientation

Approach focusing on customer needs and wants.

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15

Market share

Percentage of market controlled by a company or product.

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16

Mass market

Market for goods produced in large quantities.

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17

Niche market

Small specialized part of a larger market.

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18

Penetration pricing

Initially low price to attract customers for a new product.

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19

Predatory pricing

Selling at low prices to eliminate competition.

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20

Premium pricing

Setting higher prices to imply higher quality.

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21

Price elasticity of demand

Sensitivity of demand to price changes.

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22

Product orientation

Focuses on high-quality product rather than sales quantity.

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23

Product portfolio

All products and services offered by a company.

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24

Sampling

Selecting a subset from a population for estimation.

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25

Segmentation

Dividing a market into segments based on various criteria.

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26

Target market

Specific group of customers a company is trying to reach.

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27

Through-the-line promotion

Integrated marketing approach.

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28

Variances

Differences between planned and actual sales and costs.

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